Commercial General Liability Insurance (CGL)
This Arnprior business insurance policy is one of the most important ones for a company to have since it covers claims made by third parties alleging bodily injury or property damage while being on your business premises or caused by your products or services. CGL also covers third-party claims that are alleging personal injury, i.e., libel and slander.
Commercial Property Insurance
Any business with a physical location spends a significant amount of money on renting or maintaining the property. That’s why when your commercial property in Arnprior suffers from any damage due to an unforeseen incident, it can cost a pretty penny to restore it. With commercial property insurance, your insurer can cover renovation and maintenance costs after a covered claim.
Professional Liability Insurance
Also known as errors and omissions insurance, this policy is another important one for a business to have if they’re offering a certain service. It’s a mandatory policy for people in the law industry but optional for everyone else. However, anyone offering their professional service, such as photographers, web designers, financial consultants, etc., should protect themselves from allegations of insufficient delivery of services with professional liability insurance in Arnprior.
Business Income Insurance
There are many unforeseen events that could cause your business to be unable to operate temporarily, such as property damage. Business income insurance, also known as business interruption insurance, can replace the lost income for your business and its employees while your business is not operating due to a covered peril. It can also pay the property’s rent and utility bills until the property is repaired.
Workers’ Compensation Insurance
It’s important to offer your employees attractive insurance benefits to attract talent and retain it.
Having worker’s compensation insurance gives your employees benefits, such as coverage for medical bills, ongoing medical care, lost wages replacement, and other expenses when they suffer an injury or illness while on the job.
Almost every kind of business industry operates using technology, even if it’s just to keep important records and data.
One of the most devastating things that can happen to a business is getting a cyber-attack that compromises sensitive data related to their operations or clients.
Cyber or data beach insurance in Arnprior provides guidance in responding to an attack where important information has been leaked, lost, or stolen.
It will cover the costs of creating a public relation response campaign and other costs incurred in the process of responding to the attack.
Commercial Auto Insurance
If your business operations involve using any kind of vehicle to deliver products or services to clients or transport employees or equipment, you’ll need a reliable commercial auto insurance policy.
Regular auto insurance does not fully protect vehicles that are being used for commercial purposes, which is why commercial auto insurance in Arnprior can save you from paying money out of pocket when your business’s vehicle suffers damage.
Not sure which of these business insurance policies you should purchase? Our business insurance brokers in Arnprior can give you expert advice on what kind of protection your business needs.
Arnprior Business Insurance FAQ’s
Being underinsured is dangerous to your business and leaves it exposed to huge financial losses. At the same time, overpaying for business insurance policies that you don’t need is a waste of money. The amount of business insurance coverage you should get comes down to the level of risk associated with your business, which can be evaluated accurately by an expert business insurance broker.
Yes. Anyone offering professional services or selling products, even home-based businesses, should have some kind of business insurance to protect their livelihood. However, a home-based business won’t require the same business insurance coverage as a business that operates from an office, so it’s important to be aware of the differences and not get any unnecessary coverage.
Things like the mechanical breakdown, wear and tear, or rusting of equipment are not covered by business insurance; you’ll need a separate equipment insurance policy. Damage resulting from intentional or criminal acts is also not covered by business insurance.